„Our third prio­rity rela­tes to share­hol­ders rights, in par­ti­cu­lar, cross bor­der exer­cise of share­hol­der rights. We must ensure that all share­hol­ders, inclu­ding non-resi­dent share­hol­ders, are able to exer­cise their rights easily. This is essen­tial to share­hol­der demo­cracy. The mini­mum here is to enable share­hol­ders’ to par­ti­ci­pate in and vote at share­hol­ders mee­tings. To that end I intend to pro­pose to my col­leagues in the Col­lege, before the end of this year, a direc­tive which aims atremo­ving prac­ti­cal and legal obsta­cles that hin­der the exer­cise of share­hol­der rights in a cross-bor­der con­text. Our pro­po­sal will, of course, be sub­ject to a rigo­rous impact assess­ment.”